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National market update

Existing-Home Sales Rise in April for Second Straight Month

WASHINGTON (May 20, 2016) — Despite ongoing inventory shortages and faster price growth, existing-home sales sustained their recent momentum and moved higher for the second consecutive month, according to the National Association of Realtors®. A surge in sales in the Midwest and a decent increase in the Northeast offset smaller declines in the South and West.

The 10 Best Markets for Millennials

The road to home ownership has been a struggle for many young adults, mostly due to financial obstacles. However, some millennials may find more luck in less expensive metro areas that also have steady job growth and lower qualifying incomes necessary to purchase a home.

Existing home median price (April)

Housing Starts (April)

New home sales (March)

National economic indicators

Home ownership

4th Qtr 2015

+63.8%

4th Qtr 2014

+64%

The homeownership rate in the fourth quarter 2015 was 63.8 percent, down 0.2 (+/- 0.4)* percentage points from the fourth quarter 2014 rate of 64.0 percent. The homeownership rates in the Northeast, Midwest, South and West were not statistically different from the rates in the fourth quarter 2014.

New home sales

February 2016

+2.0%

January 2016

-7.0%

Sales of new single-family houses in February 2016 were at a seasonally adjusted annual rate of 512,000. This is 2.0 percent (+/- 18.8%)* above the revised January 2016 estimate of 502,000.

Source: U.S. CENSUS BUREAU

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Regional market updates

View market statistics for your region.

Click on the links below to view data from two different industry sources. Choose information on local prices & state sales from any of 178 metropolitan housing markets prepared by the National Association of REALTORS® or information on sales & price activity from local area markets in 25 states prepared by Clarus MarketMetrics.

Local Sales & Price Activity

Pamela Messina

Home Ownership matters…to people, to communities, and to America. Why? • For every two homes sold, one job is created in the U.S. • Each purchase generates as much as $60,000 in economic activity over time. Read more

Buying is now cheaper than renting in 74 percent of the nation’s largest cities. Low home prices and “rock-bottom” interest rates as well as tax advantages of homeownership are the reasons why it’s now cheaper to BUY a 2-bdrm home than to rent one. Check out this CNN Money article with the details. Read more

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Consumer tips & hot properties

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Housing Trends eNewsletter is filled with U.S. Census Bureau key market indicators, consumer videos, blogs, a real estate glossary, mortgage rates and calculators, consumer articles, real estate radio, realtor.com® local community reports and local and national real estate sales and price activity provided by local MLSs and the National Association of REALTORS®.

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